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Technology Stocks : Qwest Communications (Q) (formerly QWST) -- Ignore unavailable to you. Want to Upgrade?

To: SJS who wrote (962)	3/9/1998 8:57:00 AM
From: Nick	Respond to of 6846

Yes, QWST is doing the buying....I think. Doesn't this usually mean the stock of the buying company usually drops or remains flat the day of the announcement? We might not see a pop today. Let's wait and see... Nick

To: SJS who wrote (962)	3/9/1998 9:01:00 AM
From: Nick	Read Replies (1) \| Respond to of 6846

This may explain it a little better: Both CEO's will be on CNBC before 10:00: Monday March 9, 8:30 am Eastern Time Qwest to acquire LCI, deal valued at $4.4 billion DENVER, March 9 (Reuters) - Qwest Communications International Inc (QWST - news) said on Monday it had agreed to acquire LCI International Inc (LCI - news) in a $4.4 billion stock swap that will create the fourth-largest U.S. long distance company. Under a definitive agreement, each LCI share will be converted into $42 of Qwest common stock. Based on the closing prices of Qwest and LCI on March 6, LCI shareholders will receive about 122.4 million Qwest shares, or 36.4 percent of the stock of the combined companies. If Qwest's average stock price prior to the deal's closing is less than $26.95, LCI may call off the transaction unless Qwest agrees to adjust the stock-swap ratio. Qwest shares closed at $36.50 on Friday. LCI, which offers long-distance service in 40 U.S. markets and commercial local service in 30 U.S. markets, will receive two seats on Qwest's board of directors. One seat will be filled by LCI Chairman and Chief Executive H. Brian Thompson, who will become vice chairman of the Qwest board. The transaction, which is expected to be completed in the third quarter, is subject to approval by Qwest and LCI shareholders. Qwest said its majority shareholder had agreed to vote in favor of the deal. Qwest said the acquisition will expand the capabilities of its fiber network and allow it to take advantage of LCI's sales and marketing expertise, distribution channels, intelligent network platform, and customer care and billing system.